State Street Corp

MEDFORD, Mass., Jan. 21, 2026 /PRNewswire/ -- Financial Recovery Technologies (FRT), the leading global provider of securities class action recovery services, today announced a strategic relationship with State Street to support and expand the custody bank's class actions program across global markets. Through this collaboration, State Street will leverage FRT's technology, expertise, and operational scale to deliver enhanced class action filing and recovery solutions for its clients.

"This relationship builds on our shared vision to provide clients with innovative, value-added solutions that improve transparency, operational efficiency, and governance outcomes," said Michael Cotter, President at FRT. "FRT's market leading platform and litigation intelligence enable us to offer State Street's clients a more comprehensive solution and expanded coverage that adapts to the growing complexity of global class actions."

"Financial Recovery Technologies' solution will strengthen our class actions service offering by adding scale, transparency, and advanced analytics," said Chris Rowland, Head of Custody, Digital and Fund Services Product at State Street. "These enhancements will expand coverage, leveraging advanced technology and actionable market intelligence that aim to maximize recovery opportunities for clients."

FRT's class action portal supports transparency throughout the lifecycle of each case, from settlement to remittance, and includes features such as an Executive Dashboard, custom filtering, and real-time case alerts.

"Partnering with State Street allows us to bring our advanced capabilities to a broader client base," said Malav Mehta, SVP of Product at FRT. "From pre-filing analytics and data reconciliation to recognized loss calculations and payment validation, our platform is designed to maximize recovery outcomes while reducing administrative burden."

Headquartered outside of Boston, MA, with offices in London, Sydney, and New York, FRT provides securities class action recovery services and compliance solutions to more than 2,500 institutional clients worldwide. Its reputation for industry expertise, unbiased legal insight, and dedicated service teams makes it the trusted partner for global class action recovery.

About Financial Recovery Technologies

Financial Recovery Technologies (FRT) is a global technology and services firm helping institutional investors unlock operational alpha amid increasingly complex financial and regulatory environments.

FRT's industry-leading class action platform maximizes recoveries across securities litigation and antitrust settlements worldwide through advanced eligibility analysis, claims management, and fund recovery. With the 2024 acquisition of Skematic—a purpose-built compliance management system—FRT now enables compliance teams to replace manual workflows and fragmented tools with a centralized, automated, and audit-ready framework.

Together, FRT's solutions streamline middle- and back-office operations, helping clients meet fiduciary and regulatory obligations with greater efficiency, transparency, and control. Financial Recovery Technologies is a Cross Country Group company. Learn more at  www.frtservices.com.

About State Street Corporation

State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $53.8 trillion in assets under custody and/or administration and $5.7 trillion* in assets under management as of December 31, 2025, State Street operates globally in more than 100 geographic markets and employs approximately 52,000 worldwide. For more information, visit State Street's website at  www.statestreet.com.

* Assets under management as of December 31, 2025includes approximately $173 billion of assets with respect to SPDR^® products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Investment Management are affiliated.

Media Contact: Jennifer Rothenberg, jrothenberg@frtservices.com

Logo - https://mma.prnewswire.com/media/2865338/Financial_Recovery_Technologies_Logo_Logo.jpg

View original content:https://www.prnewswire.com/apac/news-releases/financial-recovery-technologies-selected-by-state-street-to-enhance-global-class-actions-service-302666047.html

SOURCE Financial Recovery Technologies

• Transfer Agency Services Provided by IFDS in Ireland and Luxembourg to be Assumed by State Street and SS&C

BOSTON and LONDON, Feb. 25, 2025 /PRNewswire/ -- State Street Corporation (NYSE: STT) and SS&C Technologies (Nasdaq: SSNC) today announced their intention to restructure the European component of their International Financial Data Services (IFDS) LP joint venture arrangement in Luxembourg and Ireland, following an almost 20-year collaboration. Under this plan, transfer agency services delivered by IFDS in Ireland and IFDS in Luxembourg will transition into each organization's respective operations.

State Street will insource the transfer agency services capabilities for its clients. SS&C will rebrand the existing transfer agency entities in Ireland and Luxembourg and operate those entities as a wholly-owned SS&C business within its Global Investor & Distributions Solutions division.  Both companies expect the restructuring to be completed in the second part of 2025, subject to customary approvals and conditions.

"This decision will help further simplify each company's operating model and transfer agency experience for our respective clients," said Donna Milrod, Chief Product Officer of State Street. "Our priority throughout this transition is to continue to provide our respective clients with the excellent service they have come to expect from our organizations, as well as retention of the transfer agency employees and expertise."

"We continue to partner closely with State Street on transfer agency and other services. We remain committed to providing our clients with excellent full-service global transfer agency technology and solutions," said Nick Wright, Global Head of SS&C Global Investor & Distribution Solutions (SS&C GIDS). 

Each organization will use current teams, technology, processes, and control environments to minimize any disruptions for clients or employees.

This decision does not impact IFDS Canada, the joint venture serving the North American market.

About State Street Corporation

State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $46.6 trillion in assets under custody and/or administration and $4.7 trillion* in assets under management as of December 31, 2024, State Street operates globally in more than 100 geographic markets and employs approximately 53,000 worldwide. For more information, visit State Street's website at www.statestreet.com.

*Assets under management as of December 31, 2024 includes approximately $82 billion of assets with respect to SPDR^® products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated.

About SS&C Technologies

SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. More than 22,000 financial services and healthcare organizations, from the world's largest companies to small and mid-market firms, rely on SS&C for expertise, scale and technology. Additional information about SS&C (Nasdaq: SSNC) is available at www.ssctech.com.

© 2025 State Street Corporation 

View original content to download multimedia:https://www.prnewswire.com/news-releases/state-street-and-ssc-technologies-restructure-international-financial-data-services-ifds-joint-venture-in-luxembourg-and-ireland-302384213.html

SOURCE SS&C